Exterior of 105 Morris St. on Friday, Aug. 10, 2018, in Albany, N.Y. The Park South neighborhood building near Albany Medical Center is expected to be demolished to make way for a five-story multifamily complex. (Will Waldron/Times Union) less

Exterior of 105 Morris St. on Friday, Aug. 10, 2018, in Albany, N.Y. The Park South neighborhood building near Albany Medical Center is expected to be demolished to make way for a five-story multifamily ... more

Exterior of 105 Morris St., right, looking toward Albany Medical Center on Friday, Aug. 10, 2018, in Albany, N.Y. The Park South neighborhood building is expected to be demolished to make way for a five-story multifamily complex. (Will Waldron/Times Union) less

Exterior of 105 Morris St., right, looking toward Albany Medical Center on Friday, Aug. 10, 2018, in Albany, N.Y. The Park South neighborhood building is expected to be demolished to make way for a five-story ... more

Exterior of 105 Morris St. on Friday, Aug. 10, 2018, in Albany, N.Y. The Park South neighborhood building near Albany Medical Center is expected to be demolished to make way for a five-story multifamily complex. (Will Waldron/Times Union) less

Exterior of 105 Morris St. on Friday, Aug. 10, 2018, in Albany, N.Y. The Park South neighborhood building near Albany Medical Center is expected to be demolished to make way for a five-story multifamily ... more

A rendering of the multi-building development planned for Quackenbush Square at 705 Broadway, just north of downtown Albany. (Illustration from city of Albany.)

A rendering of the multi-building development planned for Quackenbush Square at 705 Broadway, just north of downtown Albany. (Illustration from city of Albany.)

Image 29 of 44

In August 2017, The former Kenwood Academy, most recently home to the Doane Stuart School, was sold to a developer, Kenwood Commons LLC, with plans for luxury condominiums and an arts and cultural center.

In August 2017, The former Kenwood Academy, most recently home to the Doane Stuart School, was sold to a developer, Kenwood Commons LLC, with plans for luxury condominiums and an arts and cultural center.

Latham-based developer Abar Construction announced plans to redevelop Rodgers Liquor Warehouse at 960 Broadway into apartments, a restaurant and retail space in 2016. We reported in February the developer was facing more than $168,000 in federal fines for allegedly allowing workers in the renovation to be exposed to asbestos, lead and potentially dangerous falls, according to the U.S. Occupational Safety and Health Administration. less

Latham-based developer Abar Construction announced plans to redevelop Rodgers Liquor Warehouse at 960 Broadway into apartments, a restaurant and retail space in 2016. We reported in February the developer was ... more

Exterior of the former Rodgers Liquor Warehouse at 960 Broadway on Monday, Feb. 13, 2017 in Albany, N.Y. There are plans to convert the building into apartments and retail space. (Lori Van Buren / Times Union)

Exterior of the former Rodgers Liquor Warehouse at 960 Broadway on Monday, Feb. 13, 2017 in Albany, N.Y. There are plans to convert the building into apartments and retail space. (Lori Van Buren / Times Union)

Construction continues on Albany Medical Center's Park South redevelopment project on Tuesday, Oct. 20, 2015 in Albany, N.Y. This is the corner of New Scotland Ave. and Morris St. (Lori Van Buren / Times Union)

Construction continues on Albany Medical Center's Park South redevelopment project on Tuesday, Oct. 20, 2015 in Albany, N.Y. This is the corner of New Scotland Ave. and Morris St. (Lori Van Buren / Times Union)

Construction continues on Albany Medical Center's Park South redevelopment project on Tuesday, Oct. 20, 2015 in Albany, N.Y. This is the parking garage on Myrtle Ave. Park South has received $3 million in awards from the Regional Economic Development Council. (Lori Van Buren / Times Union) less

Construction continues on Albany Medical Center's Park South redevelopment project on Tuesday, Oct. 20, 2015 in Albany, N.Y. This is the parking garage on Myrtle Ave. Park South has received $3 million in ... more

The property's new owners, Morris Place LLC, plan to demolish the structure and build a multifamily building with indoor parking and 28 units for young professionals including students and staff at Albany Medical Center Hospital, according to details submitted for the project to the Albany City Industrial Development Agency.

The developers will present their proposal to the city’s Planning Board on Thursday.

Sameh Asaad, a Westchester County resident and part owner of Morris Place, said the property caught his eye when his daughter was looking at Albany Medical Center to pursue her education.

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“My daughter went to Siena College as an undergraduate, that’s how we came to know and love Albany,” Asaad said. “We looked at the (Albany Med) area and saw opportunities there, and how the whole establishment of Albany Med is expanding and revitalizing the area.”

Albany Common Councilman Richard Conti, who represents the Park South community, said the project is a welcome addition to the neighborhood.

“It does include demolition of the property — which most people want — and redevelopment as apartments,” he said. “This is a project that’s important as far as moving forward. It stimulates and helps with more private investment and is consistent with the Park South’s urban renewal plan.”

In January 2017, Asaad purchased the property for $158,000 from Roger Ploof, a controversial Albany landlord who for years clashed with neighbors and the city over the quality of apartments he owns. The new ownership is seeking an 18-year payment-in-lieu-of-taxes (PILOT) agreement that would amount to $1.7 million in property tax breaks. He’s also seeking roughly $300,000 in sales and mortgage recording tax breaks, according to IDA records.

Even with the exemptions, the estimated $5.4 million project is expected to generate $14,000 more in tax revenue upon completion than what currently is collected on the property.

Asaad said the project moving forward is contingent upon receiving the breaks. PILOT payments would hover between $13,000 and $14,000 until the 10th year, and increase thereafter.

Since the court ruling, only two units of the 16-unit apartment building could be occupied.

Ploof filed a lawsuit challenging the city’s Board of Zoning Appeals rulings that determined the property attracted drug activity and frequently prompted emergency calls. He argued he was being persecuted because he rented to low-income, minority tenants.

Asaad said 105 Morris St. currently has one tenant who expects to move in August, which – if all permits and incentives are approved – could clear the way for the demolition of the dilapidated building in September, and the start of construction on the new complex in October.

“We bought the building with the intention of redeveloping it — because, as you can see, it’s not a very lucrative building,” Asaad said.

Coming up

Also on Albany's Planning Board agenda for Thursday's meeting:

Review of renovation plans for a six-unit multifamily home at 80 N. Allen St. by Andrew and Joan Jenkins.

Review of construction plans for three, three-story townhomes at 185-189 Elm St. by Paul Bonacquisti under the LLC, 100 N 5.

Review of conversion plans for 16 Sheridan Ave. – the former Times Union location – into mixed use space with the addition of a sixth floor with 133 dwelling units by Troy-based Redburn Development.

Consider approval of an extension for the proposed construction of a 3 ½ story, multifamily home at 191 N. Pearl St.

He praised the community for offering assistance and encouragement. “It really feels good to be part of this revitalization for this area,” Asaad said.